The indicator shows the following details on the indicator panel.
- Total risk
- Total reward
- Total locked profit
- Total risk-reward ratio
- Drawdown recovery percentage
- No of open trades
Here "total" means the value for the whole portfolio with all open trades including the pending orders.
For individual trades its get plotted as a line on the chart with entry position, stop loss & take profit. If open trade stop loss gets trailed, then marks the same on the chart. This kind of visual marking helps traders to see how their trade is moving. See the picture below for more reference.
For busy forex traders, it is not always possible to keep an eye on the trading computer screen all the time. Hence with account balance alert, total risk, total locked profit alert one can keep doing their daily job & stay updated about their account balance.
For example, if you have 7 trades active on your Metatrader terminal, you want to get an alert when "Total Risk" goes above $500. You can do this with this indicator. Also, you can get an alert when your account balance reaches up to a certain amount (example $1000)
Not mention with this indicator it is possible to get an alert for a trailed stop too. If you have any profitable trade running & you want to receive an alert when your trailed position value reaches a certain level. You can set up your alert for emails, mobile push messages & MetaTrader terminal alerts.
Change indicator settings
Users can change indicator signal input parameters according to their choice. For example, if you want to change Bollinger band settings, you can choose Bollinger band settings by scrolling down the input menu.
Change indicator display
Users can change indicator panel display size by changing the height and width. Also can move the indicator panel anywhere around the chart by changing the x-axis and y-axis position. Instead of using default color can use any custom colors according to their choice. Not to mention signal or arrow colors.
To fit into a bigger screen size, the user can change the indicator font size accordingly.